Source: PaxForex Premium Analytics Portal, Technical Insight The GBP/JPY pair has extended its gains to near 160.78 after rebounding from near the psychological resistance of 160.00 in the Asian session. The cross has gained sheer momentum as Bank of Japan (BOJ) Governor Haruhiko Kuroda is standing with the decade-long view of easy monetary policy. The asset aims to re-test a six-day high of around 161.00 as a continuation of loose policy impacts the Japanese yen. GBP/JPY,D1 Pivot: 161.27 Analysis: As long as the price is...
Source: PaxForex Premium Analytics Portal, Technical Insight NZD/USD grinds higher around 0.6300 as China reopening improves sentiment, US data weighs on the greenback. NZD/USD,D1 Pivot: 0.6311 Analysis: While the price is above 0.6130, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6311 Take Profit 1: 0.6565 Take Profit 2: 0.6800 Alternative scenario: If the level 0.6130 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short...
Source: PaxForex Premium Analytics Portal, Technical Insight The USD is vulnerable to a time of weakness around the end of the year. This is due to US tax balancing that regularly sees USD flows out of US companies into daughter companies. So, the USD does tend to be very weak heading into year-end EUR/USD,D1 Pivot: 1.0664 Analysis: While the price is above 1.0400, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.0664 Take Profit 1: 1.0800 Take Profit 2: 1.0900...
Source: PaxForex Premium Analytics Portal, Technical Insight The USD/CAD pair comes under some renewed selling pressure on the last day of the week and continues losing ground through the first half of the European session. The pair drops to the 1.3600 mark, or a fresh daily low in the last hour, and is pressured by a combination of factors. Pivot: 1.3594 Analysis: While the price is below 1.3500, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3594 Take Profit 1: 1.3750...
Source: PaxForex Premium Analytics Portal, Technical Insight The AUD/USD pair attracts fresh buying near the 100-day SMA on Friday and stalls the previous day's retracement slide from a one-week high. The pair sticks to its intraday gains through the early European session and is currently placed near the daily high, just below the 0.6700 mark. AUD/USD,D1 Pivot: 0.6711 Analysis: Provided that the currency pair is above 0.6600, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point...
